Financial Tribune- Financial newspaper

Imports of Essential Goods via Iranian Ports Dip in 5 Months financialtribune.com/node/115048 @fintribune

Transportation Registers 35.4% Inflation: SCI “Transportation”, one of the 12 groups of goods and services surveyed by the Statistical Center of Iran for calculating the inflation, registered an annualized inflation rate of 35.4% in the fifth month of the current Iranian year (July 23-Aug. 22). The group’s month-on-month and year-on-year inflation rates reached 1.2% and 38.4% respectively. With a coefficient of 9.41%, the “transportation” CPI was 595.4, up 1.2% on the month before. This index registered a YOY increase of 38.4% and its annualized CPI increased by 35.4%. financialtribune.com/node/115041 @fintribune

26.7 Percent Decline in Construction Permits financialtribune.com/node/115046 @fintribune

Renewed Appeal for Unified Forex Rates Heads of three major business organizations have called on President Ebrahim Raisi to adopt effective measures to unify the forex rates. In a letter signed by Gholam Hossein Shafei, the head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA); Saeid Mombeini, the head of Iran Chamber of Guilds and Bahman Abdollahi, the head of Iran Chamber of Cooperatives, the president has been urged to put a permanent end to the chaotic multiple currency rates and address the economic challenges afflicting businesses across the country. The signatories named at least four exchange rates, recalling that the present state of affairs is a bane of the struggling economy and serves as oxygen for fraud and rent-seeking, Fars News Agency reported. financialtribune.com/node/115052 @fintribune

Tehran Residential Buildings’ Inflation Exceeds 28 Percent financialtribune.com/node/115026 @fintribune

Food Inflation Hit 81.2% YOY The Consumer Price Index of “food and beverages” stood at 790.9 in the fifth month of the current Iranian year (July 23-Aug. 22) to register a staggering 81.2% year-on-year rise, new data released by the Statistical Center of Iran show. The group’s annualized and monthly inflation rates reached 57.4% and 1.4% respectively. The 12 groups of the basket of consumer goods and services purchased by households include "food and beverages" with a coefficient of 26.64%, "tobacco" with 0.59%, "clothing and shoes" with 4.78%, "housing, water, electricity, natural gas and other fuels" with 35.5% (highest), "furniture, home appliances and their maintenance" with 3.93%, "health and treatment" with 7.14%, "transportation" with 9.41%, "communications" with 2.87%, "leisure and culture" with 1.65%, "education" with 1.86%, "hotels and restaurants" with 1.44% and "miscellaneous items and services" with 4.18%. financialtribune.com/node/115024 @fintribune

Proposed Banking Law Will Harm, Not Help the Economy Head of the Tehran Chamber of Chamber of Commerce, Industries, Mines and Agriculture said the banking bill now being debated in the Majlis is a matter of concern for private companies. Mosoud Khansari conveyed the list of concerns voiced by the already struggling private sector in a letter to Majlis Speaker to Mohammad-Baqer Qalibaf. He complained that the lawmakers have been indifferent toward private sector proposals for amending key provisions of the controversial bill. “This bill has raised concerns business owners. It (the bill if it becomes law) will deprive the country of the capacity to stabilize the macro economy, tame inflation and promote healthy banking,” the rare letter said in part. financialtribune.com/node/115029 @fintribune

Three Provinces Register Inflation of Above 60% financialtribune.com/node/115005 @fintribune

State Firms Pile Up Huge Losses State and government owned companies produce losses estimated at 710 trillion rials ($2.4 billion) a year, chief of Auditing Organization of Iran said. Speaking to reporters on Wednesday, Mousa Bozrog-Asl, reviewed the performance of the companies in the last fiscal year that ended in March. He singled out ten loss-making companies that account for nearly 90% of the total loss shown by state and government enterprises, the Economy Ministry website, Shada.ir reported. financialtribune.com/node/115010 @fintribune